TKG Advisors LLC Decreases Stock Holdings in Tesla, Inc. $TSLA

TKG Advisors LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,385 shares of the electric vehicle producer’s stock after selling 314 shares during the quarter. TKG Advisors LLC’s holdings in Tesla were worth $1,075,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TSLA. Siren L.L.C. purchased a new stake in shares of Tesla during the 1st quarter valued at $2,332,000. Zuckerman Investment Group LLC raised its stake in Tesla by 6.9% in the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after buying an additional 826 shares during the last quarter. Keystone Global Partners LLC purchased a new stake in Tesla in the first quarter valued at about $594,000. Strs Ohio purchased a new position in shares of Tesla in the 1st quarter valued at approximately $205,495,000. Finally, AustralianSuper Pty Ltd raised its position in shares of Tesla by 1,823.0% in the 2nd quarter. AustralianSuper Pty Ltd now owns 68,325 shares of the electric vehicle producer’s stock valued at $21,704,000 after purchasing an additional 64,772 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on TSLA. Cantor Fitzgerald set a $510.00 price objective on shares of Tesla and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Bank of America raised their price target on shares of Tesla from $341.00 to $471.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Truist Financial raised their target price on Tesla from $280.00 to $406.00 and gave the stock a “hold” rating in a research note on Thursday, October 23rd. Canaccord Genuity Group reduced their target price on Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Finally, CICC Research raised their price objective on Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a research note on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and eleven have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $391.08.

Tesla Price Performance

NASDAQ:TSLA opened at $444.26 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The firm has a market cap of $1.48 trillion, a price-to-earnings ratio of 296.17, a price-to-earnings-growth ratio of 16.84 and a beta of 2.08. The company has a 50 day moving average price of $414.80 and a 200-day moving average price of $351.91. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same quarter in the previous year, the company earned $0.72 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 202,606 shares of company stock worth $75,588,902 in the last 90 days. Corporate insiders own 19.90% of the company’s stock.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.